Early last decade, worldwide investors were screwed by global default of APP’s US$15 billion bonds. APP is forestry division of Sinarmas Group. Today, Golden Agri-Resources, plantation arm of Sinarmas, offers $500 million convertible bonds due 2017. Citigroup, BNP Paribas, CIMB, and Credit Suisse are reportedly joint bookrunners of the Bonds.
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